- South-Eastern European stock markets are booming –
+++Iran under fire from the US and Israel++Iran fights back+++Trump wants regime change+++Ayatollah Ali Khamenei dead+++Revolutionary Guards plan acts of revenge+++ ++Even Dubai in danger+++Strait of Hormuz closed+++Focus on oil, gold and silver+++Nvidia punished despite good figures+++Southeast European stocks boom: ROTX +15%, SBI Index +18%+++ Cryptocurrencies searching for a bottom+++
Israel and the US launched a coordinated attack against Iran on 28 February, in violation of international law. Trump did not seek congressional approval for the war of aggression, which is actually required under the US Constitution. He invokes a preventive right of self-defence under the UN Charter. Spiritual leader Ayatollah Ali Khamenei was killed on 1 March along with other family members. Iranian state media have confirmed the deaths of Khamenei’s daughter and grandson. Iran is trying to fight back and is attacking not only Tel Aviv, but also six American bases in the Middle East, including Dubai, where there have been explosions and damage to hotels and the airport. Iran has also blocked the Strait of Hormuz.
It is now to be expected that the prices of some commodities such as oil, gold and silver will rise, but stock indices will fall. It now depends on how long the war will last and whether there will be a regime change in Iran, which is Trump’s stated goal. Before the war, the stock markets in South-Eastern Europe, especially Romania and Slovenia, were booming, with prices rising by up to 20% since the beginning of the year. In Eastern Europe, very high dividend yields continue to attract investors, offering a certain buffer, especially in times of crisis such as now.
Andreas Männicke gives his assessment of this in his stock market newsletter East Stock Trends (http://www.eaststock.dewww.eaststock.de) and also in his new EastStockTV video. Episode 266 on YouTube.
Trump is determined to bring about regime change in Iran
On 28 February, the US, together with Israel, launched a war of aggression against Iran that had probably been planned for a long time and was contrary to international law. This came as a surprise, as the US negotiations with Iran had not yet been concluded and had previously given the impression that an agreement could still be reached on the nuclear programme. However, Trump now wants to bring about regime change at any cost. He is calling on the population to seize the opportunity to take to the streets, which can be very dangerous or even deadly for members of the opposition. Trump is also willing to meet with the new triumvirate.
Who will succeed Ayatollah Ali Khamenei?
With the help of the secret services, the spiritual leader Ayatollah Ali Khamenei was killed on 1 March, along with one of his daughters and a grandson. A triumvirate is now ruling Iran, although there is no clear leader yet. Iran tried to fight back by bombing not only Tel Aviv, but also American bases, even in Dubai, where several hotel complexes and the airport were damaged. For the first time, American soldiers were also killed in the drone attacks. Tourists are currently unable to leave Dubai. The airport has been closed.
Strait of Hormuz closed – what now?
Iran also succeeded in closing the Strait of Hormuz, which has a significant impact on the price of oil, as 20 per cent of oil shipments pass through the Strait of Hormuz. A permanent closure would significantly increase oil prices. Much now depends on how long the war lasts and whether the Revolutionary Guards are planning acts of revenge. However, the war with Iran is likely to last longer than last time after the US attack, which ended within a few days.
China and Russia remain in the background
The conflict must also be seen in the context of the battle for raw materials, i.e. in the context of the USA versus the BRICS countries, and above all the USA versus China. Iran produces 3 million barrels of oil per day, half of which is exported to China. China and Russia condemn the US’s war of aggression, which violates international law, but are holding back militarily, even though Chinese and Russian warships are also present in the Middle East.
Focus on oil, gold, silver and Bitcoin
In times of uncertainty, gold and silver are always in demand as investment instruments, but they had already risen sharply in the run-up to the Iran war. Stock markets, on the other hand, are likely to tend towards weakness in such an environment. Crypto markets even recovered slightly over the weekend. European stock markets even slightly outperformed US stock markets until the Iran war Bitcoin stabilised at around USD 65,000. As of 27 February, the EuroStoxx50 was still up almost 5 per cent and the DAX 3 per cent. The S&P 500 Index in the US, on the other hand, recently corrected slightly and is now only at about the same level as at the beginning of the year. Nvidia delivered very good quarterly results and also gave a positive outlook. Nevertheless, the share price fell like a stone from over 190 to 177 USD because it is unclear how strong the competition from China will be. Sales of chips for data centres in particular now play a dominant role at Nvidia.
Eastern Europe with opportunities for outperformance: ‘Dividend gems’ are convincing!
However, those who prefer a value approach and high dividend yields are better off in Eastern Europe at the moment. With Hungary, Poland and Czechia on board, the CECE index has already risen by 6 per cent since the beginning of the year, while the SETX index, which tracks Eastern European equities, has risen by as much as 14 per cent, the SBI index for Slovenian equities by 18 per cent and the ROTX index for Romanian equities by almost 15 per cent.
The KTX index for shares from Kazakhstan has also risen by 13 per cent since the beginning of the year. By 27 February, the DAX had risen by only 3 per cent, and the US indices had hardly risen at all. The NASDAQ Comp. Inde was even down 2.4 per cent.
First inform yourself, then invest
Find out more now about the background and development of the Ukraine/Russia crisis, as well as the future recovery potential of undervalued shares from Eastern Europe. There are also new opportunities in the Baltic States, South-Eastern Europe and the CIS republics (Kazakhstan, Georgia). In 2025, nine stock markets in Eastern Europe once again outperformed the market with strong gains (CECE index >50%!). And since the beginning of the year, eight stock markets in Eastern Europe have clearly outperformed the DAX. It is therefore still worth looking beyond the horizon to Eastern Europe.
Order a trial subscription now (3 issues by e-mail for only £15) to the monthly stock market newsletter EAST STOCK TRENDS (EST) with another Romania special and a dividend special, as well as lots of background information and new investment suggestions such as the ‘Share of the Month’ and lucrative certificates at www.eaststock.de, under ‘Stock Market Newsletter’. The last EST was published on 28 February 2026.
TV/radio notes: On 19 July 2025, Andreas Männicke was interviewed by Michael Mross as part of the MMnews club about the top stocks in Eastern Europe. On 6 October 2025, Andreas Männicke was also interviewed by Andreas Gross on Börsenradio Networks about new opportunities in Eastern Europe. All radio and TV interviews can be downloaded from the video archive at www.eaststock.de, including the latest video on EastStockTV, episode 266. By the way: have you already subscribed to the new YouTube channel BRICS-TV in addition to the YouTube channel EastStockTV ?
Seminar note: If you are interested in new East Stock Exchange seminars ‘Go East’ or a BRICS seminar in Frankfurt/M or other cities, please contact the EST editorial team (www.eaststock.de).
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